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Revolut CEO: Confident in UK banking license approval

Nikolay Storonsky, chief executive and co-founder of Revolut, which first applied for a UK banking licence in 2021 but faces lengthy delays, said the company was confident of securing a UK banking licence "soon" after overcoming some key hurdles. Revolut's annual statement released on Tuesday showed its full-year 2023 pre-tax profit will rise to $545 million, which the company noted was helped by strong user growth and revenue diversification.